Bitcoin’s Repeated Rejection Near $87,000: Consolidation or Distribution?
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After surpassing $84,000 during the day, Bitcoin retreated back to $82,000, and the recent recovery has shifted attention to critical resistance levels. At this point, analysis firm QCP Capital states that Bitcoin has found strong support around $80,000 and the most critical resistance ahead is $87,000. The analysis firm suggests that a sustained breakout above $87,000 would be crucial for BTC to... Source: Bitcoinsistemi.com
Key points of the news: Bitcoin was again rejected at about $87,000, making it the main area of dispute between buyers and sellers. ETFs maintain a strong institutional demand, but the price boost has weakened and BTC fails to overcome the resistance. Labor data reduced the odds of the market. ... Read more
Bitcoin’s Repeated Rejection Near $87,000: Consolidation or Distribution?
TL;DR: Bitcoin was rejected again near $87,000, making that level the main battleground between buyers and sellers. ETFs maintain solid institutional demand, but price momentum has weakened and BTC cannot break through the resistance. Labor data reduced the odds of a rate hike in October, though...
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